Eye-on-Retail Daily Tipsheet Archives

CANADIAN TIRE SHAKEUP – Canadian Tire brings Stephen Wetmore back to the helm in surprise shakeup to tackle new world of retail by Hollie Shaw at Financial Post. “Though the retailer’s financial results were strong under (Michael) Medline, a 15-year company veteran, the board seemed dissatisfied with the executive’s big-picture vision for the company, in particular its digital initiatives.”Read more

“BASS IS THE ONLY BUYER AROUND IT” – Cabela’s nears sale to Bass Pro Shops by Josh Kosman at NY Post. “Goldman Sachs and Bass Pro Shops are close to buying retail hunting giant Cabela’s, The Post has learned…Private equity suitors including Apax Partners and TPG Capital have dropped out of the process. The auction to buy Cabela’s is expected to wrap up within days, sources close to the process said.”Read more

46 million Americans bought something on Amazon during Prime Day by Stefany Zaroban at Internet Retailer. “An Internet Retailer survey of consumers conducted Wednesday morning finds that Amazon had a 46% conversion rate Tuesday, Prime Day. Other retailers’ counterattacks don’t appear to have made a dent.” Read more

Cereal and pressure cookers help Amazon set a record on second annual Prime Day by Dan Richman at GeekWire. “The top-selling items varied by country. In the U.S., it was the Instant Pot 7-in-1 Multi-Functional Pressure Cooker, while in Japan it was the 800-gram package of Calbee breakfast cereal.”Read more

Sports Authority cuts deal with lenders to avert abrupt shutdown via The Denver Post. “To keep its nationwide bankruptcy liquidation from crashing to a halt, Sports Authority Holdings Inc. has cut a deal with senior lenders that portends bad news ahead for landlords and suppliers to the failed sports retailer.”Read more

Neustar Names Walmart’s Venkat Achanta as Chief Data, Analytics Officer by Kara Chin at Ad Age. “Mr. Achanta has more than 20 years of experience in data science, analytics and enterprise information management. He worked as Walmart’s chief data officer since 2014, where he handled all of the data and analytics delivery platforms and improved customer experiences.”Read more

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Rona tests digital flyer, ends up doubling sales by Ross Marowits at The Canadian Press via Toronto Star. “Marketing vice-president Claire Bara said the boost far exceeded expectations and silenced internal skeptics of Rona’s three-year strategy to spend more on digital marketing.”Read more

Wal-Mart opens $100M distribution center NC by Katie Arcieri at Triad Business Journal. “Wal-Mart held a grand opening celebration Wednesday morning for its $100 million grocery distribution center in Mebane that is expected to create 550 jobs.”Read more

Wawa CEO wants 100 stores in South Florida by Brian Bandell at South Florida Business Journal. “We had people who didn’t know what a Wawa was and now they’re running some of our best stores in Florida,” Wawa CEO Chris Gheysens said. Wawa is a Native American word for goose.”Read more

Bloomberg: If Wal-Mart Can’t Bring Manufacturing Back to America, How Can Trump? by Shannon Pettypiece. “In Wal-Mart’s case, it adds up to about 7,000. That’s how many factory jobs its made-in-America program has directly created so far, according to an estimate by the Reshoring Initiative…Wal-Mart said it doesn’t track the number of jobs, but that it’s likely to be significantly higher than the Reshoring Initiative’s estimate, which only includes companies that have publicly announced their extra hiring.”Read more

H-E-B not ready to retire Tim Duncan from commercials by W. Scott Bailey at San Antonio Business Journal. “(H-E-B’s) Basso said those commercials have become so popular and attracted so much attention nationally and internationally that it’s put extra pressure on the San Antonio-based company to try and up its advertising game. In fact, H-E-B has not retired Duncan from its roster. “We would love to have him in our commercials for as long as he wants,” Basso said.”Read more

Target hits the road – first stop Raleigh at A Bullseye View. “We’re hitting the open road too, and not just for the sights and scenes of Mount Rushmore or the Grand Canyon. The Bullseye marks our spot…”Read more

General Mills execs downplay rumors of major acquisition by Kristen Leigh Painter at Star Tribune. “(CEO Ken) Powell brushed aside speculation that General Mills may bid for WhiteWave Foods Co., a Denver-based organic foodmaker that last week received a $10 billion purchase offer from Paris-based Danone, a major competitor to General Mills in the yogurt category.”Read more

Tipsheet Extra Stories

Walmart employee stabs two at Texas Walmart, including off-duty firefighter